- DeFi TVL has risen significantly since October.
- While Lido recorded an uptick in user activity in the last month, MakerDAO remained stagnant.
The decentralized finance (DeFi) sector is experiencing a resurgence, with Total Value Locked (TVL) reaching multi-month highs, according to data from DefiLlama.
According to the DeFi data aggregator, the sector’s TVL has rallied significantly in recent months, with most of the growth occurring after the general market rally in October.
Since the 11th of October, DeFi TVL has risen by 51%, growing from $37 billion to $56 billion within three months. So far this year, it has rallied by 3%.
At its press time figure, DeFi TVL sat at highs last observed in August 2022, data from DefiLlama showed.
Source: DefiLlama
Lido in the last month
The leading DeFi protocol by TVL, Lido Finance [LDO], has registered a 17% uptick in TVL in the last 30 days. This comes amid a rally in user activity on the Ethereum [ETH] liquid staking platform.
AMBCrypto found that in the last 30 days, the average count of addresses depositing ETH to or withdrawing the same from Lido daily totaled 562. This marked a 41% growth in the protocol’s active daily user count.
So far this year, Lido has recorded a user count of 14,010, according to data from Token Terminal, marking a 27% rally from the 11,000 recorded in December.
Due to the rise in Lido’s activity in the last month, monthly net deposits on the liquid staking platform have climbed to a new high.
Data from Token Terminal showed that in the past 14 days, net deposits on Lido have reached $22.1 billion, marking a 6% growth from the $20.9 billion recorded during the 31 days in December.
Source: DefiLlama
In the last 30 days, network fees have totaled $71 million, reflecting a 5% growth. The revenue obtained from these fees during the same period was $7.13 million, marking a corresponding 5% growth.
Maker is all red
The second leading DeFi protocol by TVL MakerDao [MKR] has recorded a mere 1% uptick in assets locked in the last month, per data from DefiLlama. This fall is attributable to a decrease in user activity on the protocol.
Realistic or not, here’s LDO’s market cap in BTC’s terms
As earlier reported, the low user activity on Maker may have been due to the decrease observed in DAI’s supply in December.
According to data from Token Terminal, user activity on Maker has plummeted by 27% in the last 30 days. As a result, fees and revenues from the transactions completed on the protocol have dipped by 34% during the same period.
Source: DefiLlama
This news is republished from another source.
